Raleigh Homebuyer Program

In order to help more residents of Raleigh secure safe and affordable housing, the City provides assistance to qualifying individuals with its Homebuyer Program. 

Available Assistance 
The City of Raleigh North Carolina offers eligible applicants low-interest loans of up to $20,000 to help cover down payments, closing costs, or gaps in financing. The principal balance is reduced on a set schedule and is forgiven if the owner continues to live in the residence for 20 years. Funds from the program can also be combined with other assistance programs. 

Eligibility Requirements 
To be deemed eligible for the Homebuyer Program, the City requires that applicants attend a Homeownership Class where they will earn a certificate that allows participation in the program. Applicants must also fall within the program’s set income limits (shown below). 

Income Limits 
1-person household: $53,600 
2-person household: $61,250 
3-person household: $68,900 
4-person household: $76,550 
5-person household: $82,700 
6-person household: $88,800 
7-person household: $94,950 
8-person household: $101,050 

*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but State and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.        


Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.